Does My Life Insurance Provide Coverage Abroad? Attention Travellers!

• If you are traveling abroad temporarily, most Canadian life insurance policies will cover you in the event of death, regardless of where it occurs.

• Ensure that your insurer is aware of your travel plans, especially if you are visiting high-risk countries (due to war, political unrest, or health concerns). Some insurers may exclude coverage in specific regions or require additional premiums.

• If you move abroad permanently but maintain your Canadian life insurance policy, coverage generally continues.

• You must inform your insurance provider of your new residence. Depending on the country, the insurer may:

  • Allow the policy to continue unchanged.

  • Adjust your premiums or terms if the country poses higher risks (e.g., safety, healthcare access, or environmental factors).

  • Decline coverage in certain high-risk locations.

• Ensure that premiums are paid in Canadian dollars or through a Canadian account, as required by the insurer.

• Keep your policy documents up to date with your current address and contact information.

• Make Sure your Beneficiary's information is up to date

• Term Life Insurance: Covers you globally, as long as the term is active.

• Whole/Universal Life Insurance: These permanent policies are also valid internationally, and the cash value continues to grow regardless of your location.

• Certain policies may include exclusions for specific activities or regions (e.g., war zones, hazardous travel).

• If you engage in high-risk activities abroad (e.g., mountaineering, diving, or working in dangerous areas), coverage could be affected unless you disclosed these at the time of application.

• Inform Your Insurer: Notify your provider about travel or relocation to avoid issues with claims.

• Review Policy Terms: Check your policy for any geographical exclusions or restrictions.

• Supplemental Coverage: Consider additional travel insurance for medical emergencies or accidental death coverage while abroad.

Most Canadian life insurance policies provide global coverage, but it’s crucial to inform your insurer about extended travel or relocation to ensure there are no disruptions in coverage. Always consult your insurance provider to understand the specifics of your policy and address any potential exclusions or adjustments.